Fed Chair Raises Interest Rates, Says Economy Doing Very Well

posted by Bill Strange -
Jun 14, 2018

The economy is in good shape. That's according to Federal Reserve Chair Jerome "Jay" Powell at the conclusion of the Fed meetings in DC yesterday. The Fed raised its key interest rate by a 1/4 point, the second rate hike this year. Powell said modest interest rate hikes are aimed at curbing inflation as the economy continues to heat-up. He projected ongoing economic progress in coming months, including a strong jobs market. Powell said more modest interest rate hikes should be expected. He also noted that wages should be rising faster, calling it a puzzle.